When Perseus Went to Court A court filing seeking approval for Perseus’s offer with respect to PGW clients notes that AMS has accounts receivable of $147.5 million — and $72.5 million in inventory that they are now considering an asset. They also cite “valuable collateral including AMS’s interest in foreign subsidiaries, fixed assets and intellectual property.” Some quick math will tell you they own a lot less than they owe, particularly once the fire sale starts. Wells Fargo, for their part, collected $3.9 million in additional “forbearance fees” just for extending their credit line last summer and fall. The filing […]
